Aavenir, a San Francisco, CA-based leading AI-enabled Source-to-Pay solution provider, announced that it raised $6 million in a Series A funding round led by Accel, with participation from ScOp Ventures.
The company intends to use the funds to expand operations and its business reach.
Company: Aavenir Inc.
Round: Series A
Funding Month: March 2022
Lead Investors: Accel
Additional Investors: ScOp Ventures
Company Website: https://aavenir.com/
Software Category: AI-enabled Source-to-Pay solution
About the Company: Led by Jesal Mehta, Founder, and CEO, Aavenir’s next-gen Source-to-Pay suite revolutionizes age-old procurement processes by using the latest Machine Learning and Natural Language Processing technologies to reduce cycle time, yet offering insightful best practices suggestions based on historical data. Its AI-enabled Source-to-Pay solution portfolio includes applications for Vendor Onboarding, RFP Management, Contract Lifecycle & Obligation Management, Accounts Payable Automation. Aavenir SaaS-based source-to-pay solutions are powered by the most advanced cloud-based ServiceNow platform that is delivering unified digital workflows to create great experiences.